Hedge Funds Keep Buying Pitney Bowes Inc. (PBI)

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Breton Hill Capital, managed by Ray Carroll, established the biggest position in Pitney Bowes Inc. (NYSE:PBI). Breton Hill Capital had $7.6 million invested in the company at the end of the quarter. David Harding’s Winton Capital Management also made a $1.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Roger Ibbotson’s Zebra Capital Management, and Andrew Weiss’ Weiss Asset Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Pitney Bowes Inc. (NYSE:PBI) but similarly valued. We will take a look at Sunoco LP (NYSE:SUN), Diamond Offshore Drilling Inc (NYSE:DO), Outfront Media Inc (NYSE:OUT), and Quanta Services Inc (NYSE:PWR). All of these stocks’ market caps are closest to PBI’s market cap.

As you can see these stocks had an average of 18.5 hedge funds with bullish positions and the average amount invested in these stocks was $189 million. That figure was $362 million in PBI’s case. Diamond Offshore Drilling Inc (NYSE:DO) is the most popular stock in this table. On the other hand Sunoco LP (NYSE:SUN) is the least popular one with only 12 bullish hedge fund positions. Pitney Bowes Inc. (NYSE:PBI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds really love. In this regard DO might be a better candidate to consider a long position in.

Disclosure: None